In the words of one of the petitioners Tom Lassing: “The last years have seen a loss of trust in the financial system and we have been fooled a lot. So I say: Just let the central banks like DNB show the gold is really there.

Should the citizens committee be successful, we are confident they will discover the vast majority of the country’s gold reserves- 10th largest in the world at 612,000 kilograms, are held in the basement of the NY Fed.
As we stated several days ago, the jig is now up. The German accountability office will trigger an avalanche of gold audit, delivery, and repatriation requests around the Western world. We wish the Fed luck staying ahead of the cascading avalanche of requests to convert unallocated (rehypothecated) gold into solid physical metal. They’re going to need it.

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